NORTHWEST POWER PLANNING COUNCIL PRAISES SENATE FOR DROPPING CONSERVATION 'TAX'
NORTHWEST POWER PLANNING COUNCIL PRAISES SENATE FOR DROPPING CONSERVATION 'TAX' PORTLAND, Ore., July 31 /PRNewswire/ -- The Northwest Power Planning Council said today it praised the U.S. Senate Friday for promoting energy conservation in the national energy bill. "Energy conservation is a resource, and I am very pleased that the Senate realized the value of conservation to our nation," Council Chairman Ted Hallock of Oregon said. The Senate energy bill passed 93-3 on Thursday and now goes to a House-Senate conference committee. Prior to 1989, homeowners could exclude from their taxable income the payments they received from utilities for energy conservation progjects, such as installation of storm windows and extra insulation. Then the Internal Revenue Service declared that such payments would be considered income and would be taxable. In the Senate bill, residential customers are allowed to exclude the full value of conservation payments, beginning next year. Industrial and commercial customers could exclude up to 80 percent of the value, beginning in 1994, according to a report in today's Wall Street Journal. "The conservation tax, if it had been allowed to stand, would have added to the cost of energy conservation efforts in the Northwest," Hallock said. He noted that the Council's 1991 Northwest Conservation and Electric Power Plan calls for the region to conserve 1,500 megawatts of electricity by the year 2000 to help meet the growing demand for power. "By excluding the conservation tax, the Senate has confirmed that energy conservation is a critical priority for our economy, our environment and our energy independence, both in our region and across the nation," Hallock said. The Council is an agency of the four Northwest states of Idaho, Montana, Oregon and Washington, and is charged by Congress with planning long-range energy supplies in the Northwest, and with protecting and enhancing fish and wildlife of the Columbia River Basin. -0- 7/31/92 /CONTACT: Linda Gist of the Northwest Power Planning Council, 503-222-5161/ CO: Northwest Power Planning Council ST: Oregon IN: UTI SU: LEG
SC-JH -- SE011 -- 5852 07/31/92 20:06 EDT
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|Date:||Jul 31, 1992|
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